SHANGHAI, Sept. 29 (SMM) – LME nickel prices opened at USD 9,980/mt Monday, and fell to the 10-day moving average, but climbed later on and touched as high as USD 10,025/mt. LME nickel prices rolled back early gains, and plunged at the end of trading, and closed at USD 9,795/mt, down 1.66%. Trading volumes increased 137 lots to 5,999 lots, and total positions decreased 1,844 to 246,284. LME nickel inventories fell 2,526 to 452,286 mt.
LME nickel prices will move at lows today. SHFE 1601 nickel contract prices will hover between RMB 75,500-76,800/mt today. Spot zinc prices in Shanghai should hold stable at RMB 74,400-75,600/mt.